Morgan Stanley reissued their equal weight rating on shares of Cincinnati Bell Inc (NYSE:CBB) in a report issued on Wednesday. The firm currently has a $22.00 price target on the utilities provider’s stock, down from their prior price target of $25.00.

Separately, ValuEngine cut shares of Cincinnati Bell from a hold rating to a sell rating in a research report on Friday, June 2nd. Four equities research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $21.08.

Cincinnati Bell (CBB) opened at 18.70 on Wednesday. The company has a market capitalization of $787.91 million, a P/E ratio of 5.42 and a beta of 1.69. Cincinnati Bell has a one year low of $16.05 and a one year high of $25.65. The company’s 50-day moving average is $17.56 and its 200 day moving average is $19.72.

Cincinnati Bell (NYSE:CBB) last announced its quarterly earnings results on Tuesday, May 9th. The utilities provider reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by $0.60. Cincinnati Bell had a net margin of 13.23% and a negative return on equity of 3.12%. The company had revenue of $278 million for the quarter, compared to analyst estimates of $291.68 million. During the same quarter in the prior year, the business earned $0.02 earnings per share. Cincinnati Bell’s revenue was down 3.8% on a year-over-year basis. On average, equities analysts anticipate that Cincinnati Bell will post $1.04 earnings per share for the current year.

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Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC acquired a new position in shares of Cincinnati Bell during the first quarter worth $428,000. Jericho Capital Asset Management L.P. acquired a new position in shares of Cincinnati Bell during the first quarter worth $13,143,000. State Street Corp acquired a new position in shares of Cincinnati Bell during the first quarter worth $19,007,000. Schwab Charles Investment Management Inc. boosted its position in shares of Cincinnati Bell by 7.6% in the first quarter. Schwab Charles Investment Management Inc. now owns 322,675 shares of the utilities provider’s stock worth $5,712,000 after buying an additional 22,803 shares during the period. Finally, BlackRock Inc. boosted its position in shares of Cincinnati Bell by 58,412.1% in the first quarter. BlackRock Inc. now owns 6,270,745 shares of the utilities provider’s stock worth $110,992,000 after buying an additional 6,260,028 shares during the period. Hedge funds and other institutional investors own 82.28% of the company’s stock.

Cincinnati Bell Company Profile

Cincinnati Bell Inc, along with its subsidiaries, provides diversified telecommunications and technology services. The Company operates through two segments: Entertainment and Communications, and IT Services and Hardware. Through its Entertainment and Communications segment, the Company provides high-speed data, video and voice solutions to consumers and businesses over fiber network and a legacy copper network.

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